Why hybrid blockchains will dominate ecommerce

#News(General) [ via IoTGroup ]

Headings…
Why hybrid blockchains will dominate ecommerce
By combining a permissioned blockchain with a public blockchain, companies
Public versus permissioned, which is more secure?
Interoperability remains an issue

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When Facebook launches its cryptocurrency Libra in 2020, it will need a public-facing blockchain network for consumers who purchase items using digital wallets and a private blockchain network for the banks backing the new digital currency.
The concept of setting up “hybrid blockchains,” where one is public or consumer-facing and the other is permissioned for corporate transcations behind the scenes, is expected to become a mainstay as the business of blockchain matures.
Blockchain has also resonated with consumers who are familiar with the term, Woods said.
For example, Singapore-based VeChain created a permissioned blockchain-based supply chain called VeChainThor Blockchain that offers up to 10,000 transactions per second between businesses while consumers can also observe products as they move along from manufacturer to store shelf.
Walmart China Walmart China is using a hybrid blockchain to transact with suppliers on a permissioned electronic ledger while sharing information about products with consumers on a public ledger.
While permissioned blockchains limit who can participate, public blockchains are considered more secure because they require hundreds or thousands of nodes to create a consensus on adding new ledger entries.
For example, Bitcoin blockchains have about 9,000 computer nodes participating in the consensus algorithm and at least 51% have to agree on new network transactions.
A permissioned blockchain is typically run by a single entity – the one that created it for its group of users or industry partners.
IBM, Maersk The TradeLens permissioned blockchain enables suppliers to track and trace shipments on a transparent business ledger.
In the B2B world, where privacy and confidentiality are prized over convenience, companies don’t do business with partners they don’t know – hence a permissioned blockchain.
When a company joins a permissioned blockchain, say a supply chain ledger, they are granted access via certain rights and roles

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